In accordance with the requirement of Section 3506(c)(2)(A) of the Paperwork Reduction Act 1995 which provides opportunity for public comment on new or revised data collections, the Railroad Retirement Board (RRB) will public comment on new or revised data collections, the Railroad Retirement Board (RRB) will publish periodic summaries of proposed data collections.
Comments are invited on: (a) Whether the proposed information collection is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the RRB's estimate of the burden of the collection of the information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) was to minimize the burden related to the collection of information on respondents; including the use of automated collection techniques or other forms of information technology.
Title and Purpose of Information Collection
Pension Plan Reports: OMB 3220-0089.
Under Section 2(b) of the Railroad Retirement Act (RRA), the Railroad Retirement Board (RRB) pays supplemental annuities to qualified RRB employee annuitants. A supplemental annuity, which is computed according to Section 3(e) of the RRA, can be paid at age 60 if the employee has at least 30 years of creditable railroad service or at age 65 if the employee has 25-29 years of railroad service. In addition to 25 years of service, a “current connection” with the railroad industry is required. Eligibility is further limited to employees who had at least one month of rail service before October 1981 and were awarded regular annuities after June 1966. Further, if an employee's 65th birthday was prior to September 2, 1981, he or she must not have worked in rail service after certain closing dates (generally the last day of the month following the month in which age 65 is attained).
Under Section 2(h)(2) of the RRA, the amount of the supplemental annuity is reduced if the employees receive monthly pension payments, or lump-sum pension payments, from heir former railroad employer, which are based in whole or in part on contributions from that railroad employer. The employees' own contributions to their pension accounts do not cause a reduction. An employer private pension is described in 20 CFR 216.40-216.42.
The RRB requires the following information from railroad employers to calculate supplemental pension plans cause reductions to the RRB supplemental annuity; (b) the amount of the employer private pension being paid to the employee; (c) whether or not the employer make contributions to the pension; (d) whether or not the employee was cashed out before attaining retirement age under the employer pension plan or received the pension in a lump-sum payment in lieu of monthly pension payments; (e) whether the employer pension plan continues when the employer status under the RRA changes. The requirement that railroad employers furnish pension information to the RRB is contained in 20 CFR 209.2.
The RRb currently utilizes Form(s) G-88p (Employer's Supplemental Pension Report), G-88r (Request for Information About New or Revised Pension Plan), and G-88.1 (Request for Additional Information about Employer Pension Plan in Case of Change of Employer Status or Termination of Pension Plan), to obtain the necessary information from railroad employers. One response is requested of each respondent. Completion mandatory.
The RRB proposed significant burden impacting changes to Form G-88p. New items requesting information regarding lump-sum payments paid in lieu of a monthly pension have been added as well as items instructing employers to retain a copy of the form for later transmittal are being proposed. The RRB also is proposing to delete several items Start Printed Page 54687of information from Form G-88p including items no longer needed due to the Railroad Retirement and Survivor's Improvement Act (RRSIA).
The RRB also proposes to delete information no longer needed due to RRSIA from Forms G-88r and G-88r.1. Non burden impacting editorial and formatting changes are also proposed to all of the forms.
Estimate of Annual Respondent Burden
The estimated annual respondent burden is as follows:
|Form #(s)||Annual responses||Time (min)||Burden (hrs.)|
Additional Information or Comments: To request more information or to obtain a copy of the information collection justification, forms, and/or supporting material, please call the RRB Clearance Officer at (312) 751-3363, Comments regarding the information collection should be addressed to Ronald J. Hodapp, Railroad Retirement Board, 844 N. Rush Street, Chicago, Illinois 60611-2092. Written comments should be received within 60 days of this notice.Start Signature
[FR Doc. 02-21493 Filed 8-22-02; 8:45 am]
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